User eagerly increases PEPE holdings with 10-fold leverage, anticipating a possible 20% - 44% rise in PEPE's value.
Veteran memecoin investor James Wynn has taken a bold strike in the cryptocurrency market, recently opening a 10x leveraged long position on the surging memecoin PEPE. Known for his big bets on memecoins, Wynn's latest move suggests he expects the PEPE price could surge by up to 40%, potentially reaching $0.000020.
PEPE, the memecoin, has already experienced a rally of nearly 90% this month after breaking out of a long-standing consolidation range on May 8. Since then, it has maintained a bullish structure, with the price recently forming a higher low followed by a new higher high at $0.000014. The cryptocurrency is currently holding above both the 20 EMA and 50 SMA, indicators that have been supporting its upward momentum since mid-April.
Should PEPE overcome the predicted resistance around $0.000017, the next major target would be around $0.000020 – $0.000021. This price level marks a lower high established as the price descended from its prior all-time high in December.
Wynn's risky-but-profitable trading approach has significantly influenced the crypto market. Recently, he reportedly earned $4.8 million and $6.8 million on Fartcoin (FARTCOIN) and Trump (TRUMP), respectively. He currently holds a significant position in Moonpig (MOONPIG), his own memecoin that has recently surged by nearly 3000% in less than three weeks.
Notably, Wynn previously turned an initial $7,000 investment into $25 million through his PEPE trades. His bold and intuitive investment style included a $1 million long position with 10x leverage, which yielded a 22% return on investment.
In a potentially strategic move, Wynn has recently offloaded his PEPE tokens, transferring approximately 443.73 billion PEPE (worth around $4.4 million) to Binance. Some experts suggest this move may have been to fund a sizable Bitcoin long position.
Wynn's recent business decisions underscore his skilled approach to navigating the unpredictable memecoin market while maintaining positions in more established cryptocurrencies, such as Bitcoin, to counteract market risks.
- James Wynn, known for his successful memecoin investments,, has recently transferred a significant amount of PEPE tokens worth around $4.4 million to Binance, possibly to fund a substantial Bitcoin long position.
- Wynn's latest investment move, a 10x leveraged long position on PEPE, follows his expectations of a potential 40% surge in the memecoin's price, which could reach $0.000020.
- Investors are closely watching the cryptocurrency exchange DEX, as the surge in PEPE's price, fueled by cryptocurrency finance and investing, has the potential to trigger a similar trend for other memecoins listed on the platform.
